Asian brands reshaping demand—with fashion and F&B leading

Asia’s retail market is quietly evolving. It’s no longer just global names reshaping malls and high streets—nimble homegrown brands are turning stores into places to discover, linger and belong.

Fashion continues to sit near the top of the leasing mix in many markets and was especially prominent in places like Bangkok and India, where it accounted for over one-third of new leasing in 2024–2025. Compact flagships, experience‑led layouts, value‑oriented and fast‑turnover concepts that support omnichannel fulfilment mean fashion often drives new openings or anchors curated retail clusters, as seen in Uniqlo’s regional rollouts and Gentle Monster’s gallery‑style flagships that blend growth with experiential format innovation.

F&B plays a complementary role: it increases footfall, lengthens visits and creates social occasions. Rebounding regional travel and resilient domestic consumption have helped chains and specialty operators expand rapidly. Examples from Luckin Coffee, Molly Tea and Chagee show how food concepts can both boost traffic and convert casual visits into repeat behaviour; design forward, “Instagrammable” dining further enhances a centre’s destination appeal and frequency.

Keeping centres fresh is increasingly about flexibility. Popups, themed programming and adaptable retail units allow landlords to trial new concepts quickly and build clusters that work together—fashion, F&B and lifestyle—rather than competing. That synergy is deepening: fashion brands — from luxury flagships in Bangkok and Hong Kong to everyday labels — are now co-locating with or embedding F&B concepts, turning stores into hybrid destinations where shopping and socialising reinforce each other. Notably, Muji’s lifestyle stores, some of which include cafés, illustrate how retailers combine shopping and dining to lengthen visits. This agility reduces reliance on any single category and helps sustain visitor frequency.

Homegrown brands are powering much of this change—particularly those scaling from China, Korea and Japan—though notable exporters are emerging across the region. These operators blend digital customer acquisition with store formats that resonate locally, prompting landlords to rethink anchors and curate for cultural fit as well as scale.

Figure 1: Leasing trends 2025: Major retail categories in selected markets

Source: JLL Research

Acting proactively counts. JLL’s Experience Matters 2025 report shows 74% of consumers want brands that recognise and personalise for them, and 69% favour places aligned with their values over pure convenience or price. Landlords that prioritise curation, flexibility and active programming—and occupiers that treat stores as experience and fulfilment hubs—will be in the best position to capture durable demand and outperform peers.